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China’s Didi reverses course, will remain in Russia -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Didi logo was seen in Beijing at Didi Chuxing headquarters, China on November 20, 2020. REUTERS/Florence L/File Photograph

BEIJING, (Reuters) – Didi Global, a ride-hailing company from China said that it will continue operating in Russia. This is in contrast to Monday’s announcement that it had decided to leave Kazakhstan and Kazakhstan.

The explanations were not given. Didi didn’t immediately reply to my request for more information.

Didi, one year and half since launching its services in Russia, announced that they would be departing Russia on Monday. The company has been there for approximately a full year.

On Monday, the company stated that it was unable to deliver the best results for Russia and Kazakhstan due to market changes and other obstacles.

Although neither statement addressed geopolitical considerations in the decision making, some online critics suggested that Didi was subject to U.S.-imposed pressures on Russia. Russia invaded Ukraine on Thursday.

Saturday’s statement didn’t mention Kazakhstan.

While the Chinese government called for dialogue with Ukraine, it has not condemned Russia’s aggression or called it an invasion.

Didi’s public listing in New York last summer has been turbulent. Didi, under pressure from Chinese regulators over data security, announced in December that it would delist from NYSE to pursue a Hong Kong listing.

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